This is reference to earlier announcement dated May 12, 2025, and subsequent clarification sought by BSE dated May 19 ,2025. Please find enclosed the revised disclosure.
NEWGEN · price
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Newgen Software Technologies has submitted a revised disclosure to BSE regarding an agreement signed on May 12, 2025 by its wholly owned Saudi Arabian subsidiary. The contract involves delivery of software licenses, Annual Technical Support (ATS), and an End User License Agreement to an international customer. The agreement is for a period of one year with a total consideration of USD 1.632 million (approximately ₹13-14 crore). The original disclosure was updated to provide additional details as sought by BSE. The company clarified that this is not a related party transaction and that promoters have no interest in the awarding entity.
This is a routine international order win of modest size for the company and is unlikely to materially move the stock. It shows continued business activity through the Saudi subsidiary but is not large enough to significantly impact financials.